GM launches credit cards for in-vehicle software purchases
Updating its rewards programme, General Motors has launched a credit card for its Cadillac, Chevrolet, Buick, and GMC customers.
The new credit card will enable customers to purchase in-vehicle software and thus benefit from software features. This is in line with GM's recently-announced goal to increase its revenues to $280 billion by 2030, in large part through the development of revenue from software and other new business.
A three-tier credit rewards programme, with Silver, Gold, and Platinum membership options, will support the in-vehicle software offer. Points gathered via membership can be used for GM and non-GM purchases, leasing a new GM vehicle, or acquiring parts and accessories. Customers will also be able to select OnStar and Connected Services plans via their subscriptions.
6 million subscribers
GM customers can pair the card with their My GM Rewards and My GM Rewards Card, which is offered in collaboration with Goldman Sachs and Mastercard. Goldman Sachs took over GM's credit card portfolio last year, while Mastercard acts as the network for credit cards.
Since its launch in 2018, My GM Rewards has already reached more than 6 million subscribers.